When are you going to retire? Do you have enough money to retire? How much money do you need to get for your business? Who will run the company when you are gone? Let me list some ideas and share some thoughts with you regarding some ideas you might want to consider.
Everyone is going to retire from their business, the only question is when. Based on what I’ve seen some of my clients do, it appears that the best time to sell your business is when you had a great year and made at least a 10 percent net profit on your gross sales before taxes. When a company does that, a lot of owners change their mind regarding selling it. Their logic being, “why would I want to sell when the business is doing well!” So, by that same logic, do they sell when the company is doing less than well? If that is so, why would a buyer want to buy a less than good company?